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Nord Stream-2 implemented as planned, Gazprom says

Staff Writer | August 23, 2016
The Nord Stream-2 construction project is being implemented as planned, and Gazprom’s foreign counterparts consider options to participate in it.
Nord Stream
Energy transport   "The decision was we shall not wait"
Earlier, Poland said a joint venture may limit competition, claiming it would be a red light for establishment of a joint venture.

"There were no bans, and we answered the questions regarding the claims," Gazprom’s official said. "The decision was we shall not wait, judging by the moods. Thus the Nord Stream 2 company does exist, it works."

This was his reply to a question about implementation of the project after the project counterparts withdrew the notification from the Polish regulator concerning establishment of a joint venture for the project.

"How the foreign counterparts will participate - this is what they will decide themselves," the official continued. "They will be searching for options to join the project. We move forward according to the plan. Our counterparts are sharing our vision."

Gazprom and its European partners Engie, OMV, Shell, Uniper and Wintershall submitted earlier an application for establishment of the joint venture to antimonopoly regulators in Germany and Poland. Germany approved the decision but the Polish regulator presented objections.

Companies later withdrew their application for the joint venture under the Nord Stream-2 furnished to the Poland’s authority.

The Nord Stream-2 project includes the construction of two lines of the offshore gas pipeline with a total capacity of 55 bln cubic meters of gas a year from Russia to Germany under the Baltic Sea, in addition to the existing two lines. The project is to be implemented by the new engineering company New European Pipeline AG.

The stakes of partners in Nord Stream 2 AG will be distributed as follows: Gazprom will hold 50%, while Uniper, BASF/Wintershall, Shell, OMV and ENGIE will own 10% each.